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Italian Design Brands (IDB), a cluster of Italian companies specializing in luxury furnishings and design, announced at the end of April that it intends to list on the Milan stock exchange in early May. A sign of the extraordinary dynamism of the interior design market.
Despite a turbulent stock market context, marked by the war in Ukraine and galloping national and international inflation, the Italian Design Brands group chose to enter the Milan Stock Exchange in early May after a two-year pandemic. A market regulated and organized by Borsa Italiana.
IDB, one of the most important holding companies specializing in high-end furniture and design in Italy, includes luxury sofa makers Gervasoni and Meridiani, as well as lighting designer Davide Groppi and kitchen designer Cubo Design.
The group said in a statement that the offer would include new shares worth 70 million euros ($77 million) and existing common stock.
Capital increase
The capital increase is to be used to fuel the group’s strategy and finance M&A activities.
IDB said that the objective is to reach a free float of at least 25% of the share capital at the end of the listing.
The company added that the final structure of the offering will be determined later in the wake of the IPO.
Citigroup and Equita will act as global coordinators and book-runners for the IPO.
In March, the group announced that it had achieved 2022 revenue of €266.5 million, up 84.8 percent year-on-year. By 2021, the group had generated €145 million ($158 million) in revenue, with a core profit margin of about 16 percent.
Appetite for further acquisitions intact
IDB said it would use the proceeds from the listing to support organic growth as well as investment and working capital.
With a portfolio of 13 brands since its inception in 2015, IDB does not rule out further acquisitions, according to CEO Andrea Sasso.
Italy still has some great family-owned nuggets, most of them of modest size.
A few days ago, Meridiani, one of the flagship brands of the Italian Design Brand group, opened its second outlet in Milan, an extremely dynamic city in luxury retail, while the future winter Olympics in Cortina D’Ampezzo are coming up.
The sofas, manufactured by the brand in question, can cost up to 50,000 euros each. A price that does not deter potential buyers from the wealthy and wealthy middle class. Future acquisitions should also help meet this demand, driven by a search for a cocooning spirit born of the confines which do not weaken.
CEO Andrea Sasso is counting on a solid rebound in the Chinese market, where the company opened offices in March 2020 amid the pandemic. He is also betting on the American market. The group exports three-quarters of its products internationally.
A fragmented Italian sector
The global luxury furniture and design market market generated a turnover of 53 billion euros last year, up 13% on a comparable basis, according to a Bain – Altagamma study.
Italy, for its part, represents 25% of this market but remains particularly fragmented, with around 100 small and medium-sized companies.
Last April, the Italian luxury furniture brand Cassina, owned by the American group Haworth Lifestyle Design, acquired the design brand Zanotta from the Techno group.
This fragmentation can be seen in the luxury fashion market, which is also experiencing unprecedented mergers and acquisitions since the Covid.
Read also > Milan Furniture Fair returns stronger than ever
Featured photo : © Gervasoni1882 – A brand of Italian Design Brands (IBD)[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
Italian Design Brands (IDB), a cluster of Italian companies specializing in luxury furnishings and design, announced at the end of April that it intends to list on the Milan stock exchange in early May. A sign of the extraordinary dynamism of the interior design market.
Despite a turbulent stock market context, marked by the war in Ukraine and galloping national and international inflation, the Italian Design Brands group chose to enter the Milan Stock Exchange in early May after a two-year pandemic. A market regulated and organized by Borsa Italiana.
IDB, one of the most important holding companies specializing in high-end furniture and design in Italy, includes luxury sofa makers Gervasoni and Meridiani, as well as lighting designer Davide Groppi and kitchen designer Cubo Design.
The group said in a statement that the offer would include new shares worth 70 million euros ($77 million) and existing common stock.
Capital increase
The capital increase is to be used to fuel the group’s strategy and finance M&A activities.
IDB said that the objective is to reach a free float of at least 25% of the share capital at the end of the listing.
The company added that the final structure of the offering will be determined later in the wake of the IPO.
Citigroup and Equita will act as global coordinators and book-runners for the IPO.
In March, the group announced that it had achieved 2022 revenue of €266.5 million, up 84.8 percent year-on-year. By 2021, the group had generated €145 million ($158 million) in revenue, with a core profit margin of about 16 percent.
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Italian Design Brands (IDB), a cluster of Italian companies specializing in luxury furnishings and design, announced at the end of April that it intends to list on the Milan stock exchange in early May. A sign of the extraordinary dynamism of the interior design market.
Despite a turbulent stock market context, marked by the war in Ukraine and galloping national and international inflation, the Italian Design Brands group chose to enter the Milan Stock Exchange in early May after a two-year pandemic. A market regulated and organized by Borsa Italiana.
IDB, one of the most important holding companies specializing in high-end furniture and design in Italy, includes luxury sofa makers Gervasoni and Meridiani, as well as lighting designer Davide Groppi and kitchen designer Cubo Design.
The group said in a statement that the offer would include new shares worth 70 million euros ($77 million) and existing common stock.
Capital increase
The capital increase is to be used to fuel the group’s strategy and finance M&A activities.
IDB said that the objective is to reach a free float of at least 25% of the share capital at the end of the listing.
The company added that the final structure of the offering will be determined later in the wake of the IPO.
Citigroup and Equita will act as global coordinators and book-runners for the IPO.
In March, the group announced that it had achieved 2022 revenue of €266.5 million, up 84.8 percent year-on-year. By 2021, the group had generated €145 million ($158 million) in revenue, with a core profit margin of about 16 percent.
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